Sodium-ion batteries have received remarkable attention as next-generation high-performance electrochemical energy storage devices because of their cost effectiveness and the broad geographical distribution of sodium. As a critical component of sodium-ion batteries, anode materials, especially nanostructured anodes, have a significant effect on the electrochemical performance of sodium-ion batteries. Recent research indicates that phosphorus and metal phosphides show great promise as anode candidates for sodium-ion batteries because of their low cost and relatively high theoretical gravimetric and volumetric specific capacities. In this review, we systematically summarize recent research progress on state-of-the-art nanostructured phosphorus and phosphides, including the synthetic strategies, Na-storage mechanisms, and the relationship between the nanostructure and electrochemical performance. Moreover, we present an overview of future challenges and opportunities based on current developments.